The following is a summary of the Alstom SA (ALSMY) Q3 2023 Earnings Call Transcript:

Financial Performance:

• Alstom SA reported a strong Q3 order intake of €5.5 billion and €13.9 billion year-to-date, particularly from Europe, Australia, and the Middle East.

• A steady backlog of €90 billion with improved margins was noted.

• Organic sales growth was at 4.6% in Q3 and 7.3% over nine months due to the strong performance from the service system and signaling product lines.

• Sales for the year 2023/2024 are anticipated to be €1.7 billion at zero gross margin.

• The company expects a negative free cash flow of between €500 million to €750 million for the full financial year.

Business Progress:

• Production increased with 3,415 cars produced over nine months compared to less than 3,000 for the same period in the previous year.

• Measures are being implemented to improve inventory management and project visibility.

• There is a plan to strengthen the balance sheet by €2 billion through inorganic measures, with disposals expected to raise between €500 million and €1 billion.

• Significant progress made with deals for the AlUla tram system and the Dominican Republic monorail.

• Expect the positive momentum in service and systems to continue into Q4 and later quarters.

• Negotiations are ongoing with the UK government regarding manufacturing capabilities in Derby.

• Alstom reconfirmed its full-year outlook and mid-term guidance, aiming for zero net debt and an adjusted EBIT margin of around 6% for the full financial year.

More detailed: ALSTOM UNSP ADR EACH REPR 0.10 ORD IR

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